Tech Company Financing Transactions
xAI Funding Round
On 5/27/2024, xAI received $6 billion in Series B funding from Andreessen Horowitz, Fidelity Management & Research Company and private investors.
Transaction Overview
Company Name
Announced On
5/27/2024
Transaction Type
Venture Equity
Amount
$6,000,000,000
Round
Series B
Investors
Proceeds Purpose
The funds from the round will be used to take xAI's first products to market, build advanced infrastructure, and accelerate the research and development of future technologies.
Company Information
Company Status
Private & Independent
Industry
Artificial Intelligence
Mailing Address
216 Park Road
Burlingame, CA 94010
USA
Burlingame, CA 94010
USA
Phone
Undisclosed
Website
Email Address
Overview
xAI is a company working on building artificial intelligence to accelerate human scientific discovery. We are guided by our mission to advance our collective understanding of the universe. Our team is led by Elon Musk, CEO of Tesla and SpaceX. Collectively our team contributed some of the most widely used methods in the field, in particular the Adam optimizer, Batch Normalization, Layer Normalization, and the discovery of adversarial examples.
Profile
Social Media
Company News
Facebook
YouTube
Management Team
Title
Name
Email & Social
Chief Executive Officer
Elon Musk
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Where The Data Comes From
We do our best to report on every notable VC transaction. VC investment data records reported here are sourced from publicly available VC deal announcements. The data is sourced from VentureDeal.com, an affiliated venture.
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